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Spam orders seeking value

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Wendy

Thread Starter
Senior Member
Joined
Feb 23, 2004
Professional Status
Certified Residential Appraiser
State
Florida
The fax machine just spit out an order type many are familiar with. It's from a mortgage broker with a blank appraiser field and no contact phone number for the borrower. All other info is there, including estimated value, plus the comment "....see how close we can get. thanks."

Obviously, this was sent to every appraiser in the area. Classic case of whoever promises the value gets the order.

Seems that gathering several of these shotgun faxes for the same property would be proof enough of being a naughty boy. Pretty simple to prove he's shopping an appraiser. Is anything happening to these guys?
 
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
I just LOVE it when multiple appraisers report the same thing at www.MortgageFraudWatchList.org!!!!!
 

Wendy

Thread Starter
Senior Member
Joined
Feb 23, 2004
Professional Status
Certified Residential Appraiser
State
Florida
Which I did.

Such blatant attempts to influence an appraiser never fail to annoy me. Sad part is that someone will hit the number and do it for only $175. sigh.
 

Lost Cause

Senior Member
Joined
Sep 17, 2004
Professional Status
Certified General Appraiser
State
New York
Congratulations

Which I did.

Such blatant attempts to influence an appraiser never fail to annoy me. Sad part is that someone will hit the number and do it for only $175. sigh.
Take heart, Wendy. You may have just drivin the first nail into the coffin of the skippy that took the assignment.
 

Smokehouse

Junior Member
Joined
May 7, 2003
Professional Status
Certified Residential Appraiser
State
Florida
They should toss out the nails and bring back the railroad spikes!
 

Rudy Canoza

Senior Member
Joined
Sep 27, 2003
Professional Status
Certified Residential Appraiser
State
California
Mr. McBroker:

We do not do comp checks. We understand that lenders do not have to work to USPAP and therefore are not bound to the same rules as an appraiser. Your request as written would be a violation of these rules if accepted by this office.

Please refer to the following link for clarification:

http://commerce.appraisalfoundation.org/html/2006 USPAP/ao19.htm

The following are excerpts from the above website. Please pay special attention to #1 as it directly applies to your email.

ADVISORY OPINION 19 (AO-19)

SUBJECT: Unacceptable Assignment Conditions in Real Property Appraisal Assignments

ISSUE: All real property appraisal assignments involve conditions that affect the appraiser’s scope of work and the type of report. What types of assignment conditions are unacceptable?

BACKGROUND: Many residential property appraisers report requests for service where the caller includes statements or information in the request similar to the following:

1. We need comps for (property description) that will support a loan of $___________; can you provide them?
2. Sales Price: ___________.
3. Approximate (or Minimum) value needed: __________.
4. Amount needed: ______________.
5. Owner’s estimate of value: ___________.
6. If this property will not appraise for at least ___________, stop and call us immediately.
7. Please call and notify if it is NOT possible to support a value at or above ___________, BEFORE YOU PROCEED!!!!

Relevant USPAP & Advisory References (AO-19)

"The Conduct and Management sections of the ETHICS RULE, particularly in regard to assignments offered under condition of “predetermined opinions or conclusions” or compensation conditioned on the reporting of a predetermined value result, a direction in assignment results that favors the cause of the client, the amount of a value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the appraiser’s opinions and specific to the assignment’s purpose."

Additionally, Fannie Mae Certification 18, found on Page 5 of the URAR Single Family Residential report, requires the same ethics standards which every appraiser signs under penalty of perjury.

If you have any further questions or comments, please feel free to contact this office.

Thank you.
 

Obsolescent

Senior Member
Joined
Jul 6, 2004
Professional Status
Certified Residential Appraiser
State
Minnesota
Mr. McBroker:

We do not do comp checks. We understand that lenders do not have to work to USPAP and therefore are not bound to the same rules as an appraiser. Your request as written would be a violation of these rules if accepted by this office.

Please refer to the following link for clarification:

http://commerce.appraisalfoundation.org/html/2006 USPAP/ao19.htm

The following are excerpts from the above website. Please pay special attention to #1 as it directly applies to your email.

ADVISORY OPINION 19 (AO-19)

SUBJECT: Unacceptable Assignment Conditions in Real Property Appraisal Assignments

ISSUE: All real property appraisal assignments involve conditions that affect the appraiser’s scope of work and the type of report. What types of assignment conditions are unacceptable?

BACKGROUND: Many residential property appraisers report requests for service where the caller includes statements or information in the request similar to the following:

1. We need comps for (property description) that will support a loan of $___________; can you provide them?
2. Sales Price: ___________.
3. Approximate (or Minimum) value needed: __________.
4. Amount needed: ______________.
5. Owner’s estimate of value: ___________.
6. If this property will not appraise for at least ___________, stop and call us immediately.
7. Please call and notify if it is NOT possible to support a value at or above ___________, BEFORE YOU PROCEED!!!!

Relevant USPAP & Advisory References (AO-19)

"The Conduct and Management sections of the ETHICS RULE, particularly in regard to assignments offered under condition of “predetermined opinions or conclusions” or compensation conditioned on the reporting of a predetermined value result, a direction in assignment results that favors the cause of the client, the amount of a value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the appraiser’s opinions and specific to the assignment’s purpose."

Additionally, Fannie Mae Certification 18, found on Page 5 of the URAR Single Family Residential report, requires the same ethics standards which every appraiser signs under penalty of perjury.

If you have any further questions or comments, please feel free to contact this office.

Thank you.

Response from Mr. McBroker: I appreciate your bringing that to my attention, but do you have any comps to support the deal?
 
Joined
Mar 5, 2002
Professional Status
Certified Residential Appraiser
State
California
Just spit out a verbal high range of numbers, you know - something they want to hear (unless you're being recorded), then go appraise it what it's worth. What are they going to do, sue you for not providing a pre-determined value?? Just make sure you don't take payment out of escrow. LOL

I don't do this but I can't say the thought hasn't crossed my mind.
 
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